We can now agree that the online gambling industry is here to stay. If we had any doubts in our minds a few years ago, they ought to have vanished by now.
The popularity of online casinos has grown over the years as advanced technology continues to reach new heights. Currently, the online gambling market is valued at over $59 billion and is predicted to be worth $92.9 billion by 2023.
We’ve seen casino games being offered at brick-and-mortar casinos, but these days, casino games online at FanDuel and other platforms are the preferred option for many bettors. It doesn’t seem like this trend will change anytime soon.
But here’s the deal: online casinos capitalize so much on the internet’s global acceptance, and while it has led to much growth, there’s one big challenge standing in the way: CYBERCRIME. It’s estimated that more than 60 million Americans have fallen victim to at least one scam – a staggering figure.
Because of the dependence of online casinos on the internet and software technology, cybercrime has continued to plague the industry for decades and still counting. Hackers and scammers see online gamblers as one of their biggest fish to catch. And why not? There’s a lot of money in this market.
These cybercriminals thrive off the increasing popularity of online casinos. You only need to close your eyes and imagine how much data and money flood through online casino databases daily. That’s a digital diamond mine right there!
It takes just one data breach to bring a casino platform to its knees. In worst-case scenarios, a major leak could cripple the casino for good. That’s why cybersecurity is of topmost priority to any reputable online casino.
This article addresses the potential security challenges that square up against online casinos and how these platforms combat them.
Stay Safe on the Internet
If you’ve ever been scammed online, you can attest to this fact: the experience leaves a sour taste in the mouth.
One of the things you want to make sure of before entering your data into an online casino database is their cybersecurity protocol. You don’t want to be careless about this.
So how do you distinguish a legit casino from a scam? One major way is to go through their security policies (you’ll find them on their website). Any site that doesn’t provide a public security policy is a suspect.
A reputable platform will take every measure to ensure the security of its code. Online casinos want you to rest your mind when you browse their website or play the games they offer.
A casino can only do its part to ensure security and protection. It implies that cross-checking before signing up on a gambling site is just one side of protecting yourself. In the real sense, there is no software without vulnerabilities; you’ve got a role to play in ensuring your data and transactions’ safety.
Casino Threats: Land-based vs Online
Scammers don’t target online casinos alone. They are everywhere.
In land-based casinos, the most common attacks are targeted at the money store. Top-class casinos around the world channel millions of dollars in and out of their vault every day.
Land casinos take precautionary and protective measures by documenting and setting up strict accounting protocols to safeguard cash flow within their premises. But with online casinos, it’s almost a different story entirely; cyber threats come in many ways that are not so easy to combat.
Cybercriminals can compromise a game’s integrity
An online casino gaming service provider offers its customers a variety of games. It’s their most important service, and game providers look to provide stable and quality gameplay; with no glitches. As a result, hackers perform cybercrime by hitting these platforms where it hurts the most – the games.
Successfully compromising the quality of a casino game could mean big trouble to the game provider. For example, slot games can be rigged to help the house or a particular player win lots of money in the long run. This singular act can mar a casino’s reputation and ultimately lead to the loss of customers.
The operations of hackers are not only limited to breaching data. Some go as far as hacking and manipulating a customer’s account.
When hackers lay hold of a user’s account, they can make withdrawals or place bets on behalf of the account owner without their permission. This cyberattack can damage an online casino’s reputation, especially when it takes too long to rectify the breach. The casino can lose many of its customers as a result.
Ransomware or Distributed Denial of Service (DDoS)
DDoS is a cyberattack that interrupts an online casino’s gameplay. In many cases, cybercriminals can lay hold on the casino’s private information and could use it as blackmail.
These hackers will request huge ransoms from game providers in exchange for hacked data. Failure to comply may result in disruptive gameplay, which can chase off customers in the long run.
Customer or player behavior
Cyber attacks aren’t exclusive to professional hackers and scammers. Some cybercrimes take place within the premises and are traceable to customers.
Some users see online betting as a means to launder ill-gotten money for various dubious reasons. Federal and state authorities have standards and regulations for casinos to curb money laundering. Casinos may face the music if they don’t do due diligence to detect these fraudulent acts.
Online casinos are investing a lot of money towards cybersecurity to ensure they don’t fall victim to these scams. Thankfully, many cybersecurity experts help these sites maintain their security reputation.
Although cybercrimes have posed many challenges to the online gambling market, it hasn’t slowed down its growth. More people are still willing to make transactions with trusted casino sites like FanDuel, which is known for its strong and reliable cybersecurity.
With new and improved technology, protecting sensitive information has become a lot easier, and we can only hope for the better.